{LONGTERMINVESTORS} INDIA DAYBOOK.

 

 

• Gold slips, Asian stks swing before payrolls; oil resumes rise
• Junk bonds spurned by funds preferring cash to 11% yield
• Watch farmer incomes to see if Modi really transforming India
• BofA poised to cut 150 jobs in trading, investment banking
• Goldman Sachs said to cut more than 5% of fixed-income jobs
• RBI floats regulatory framework for new kind of NBFC
• RBI says converted 2 G-Secs to longer tenor at market prices
• TPG Group said to disagree w/ Ambani over tower value
• India will refrain from distress sales of state firms
• India divestment czar sees new ways to free cash at firms
• EU ends ferroalloy-tariff threat on India, helping steelmakers
• JSW Steel stock defies slump in best start since 2012: chart
• ONGC scouting for right global acquisition opportunities

MEDIA REPORTS:

• Pepsi bottler Varun Beverages plans 10b-rupee 2017 IPO: Mint
• Tata Asset in talks to buy JPMorgan India mutual fund unit: ET

CENTRAL BANK:

• RBI to hold 14-day term repo auction for 270b rupees today

GOVERNMENT:

• 9:30am: PM unveils Setubharatam project in New Delhi
• 11am: CII organizes Maharashtra annual day in Mumbai
• 11am: FICCI post-budget interaction w/ Finance Ministry officials in New Delhi
• 12:30pm: Defense Minister's press conference in New Delhi

BOND SALES:

• HDFC sells INR10b 4Y zero coupon bonds at 8.75% yield

CONFERENCES/CORPORATE EVENTS:

• 10am: CII AgriCon conference in New Delhi
• 4:30pm: Road Transport Minister at Mahindra Transport excellence awards in New Delhi
• 6:45pm: Godrej Group press meet in Mumbai

ANALYST RATINGS/RESEARCH:

• Cipla cut to hold vs buy at Sharekhan
• Larsen cut to sell vs hold at Religare; PT 960 rupees

MARKETS:

• S&P 500 +0.3% to 1,993.40
• Stoxx Europe 600 -0.5% to 339.42
• MSCI Asia Pacific Index +0.1% to 125.59
• Global Commodity Prices Overview

• Gold spot -0.4% to $1,258.52/oz
• Brent futures -0.1% to $37.04/bbl

• SGX CNX Nifty Index futures for March delivery +0.2% to 7,455

• Sensex +1.5% to 24,606.99
• Nifty +1.5% to 7,475.60

• Yield on 7.59% bonds maturing Jan. 2026 at 7.66% on March 3
• Rupee +0.3% at 67.3400/dollar

ADRs (traded value):

• Tata Motors +7.9% ($62.8m), Dr Reddy's +5.6% ($37.4m), ICICI +4.8% ($144.1m), Infosys +2.8% ($98.2m), HDFC Bank -0.3% ($63.4m), WNS Holdings -0.3% ($4.5m), Wipro -0.1% ($4.3m)

EQUITY PREVIEW:

• Asian Paints (APNT): Restarts Rohtak plant operations
• Bosch India (BOS): Seeks shareholders' approval for sale of Starter Motors
• Dewan Housing (DEWH): To consider fund raising on March 8
• Dr. Reddy's (DRRD): Shr buyback won't hit credit profile: ICRA
• Tata Motors (TTMT): JLR sees profitable volume growth in 4Q

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